First Pacific Financial Purchases 7,871 Shares of Prudential Financial, Inc. $PRU

First Pacific Financial boosted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 31.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,221 shares of the financial services provider’s stock after acquiring an additional 7,871 shares during the quarter. First Pacific Financial’s holdings in Prudential Financial were worth $3,446,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. AlphaQuest LLC grew its position in Prudential Financial by 12,250.0% during the first quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after buying an additional 245 shares during the period. Darwin Wealth Management LLC bought a new stake in shares of Prudential Financial during the 2nd quarter valued at $36,000. AlphaCore Capital LLC purchased a new stake in shares of Prudential Financial in the 2nd quarter worth $39,000. Capital A Wealth Management LLC raised its holdings in Prudential Financial by 4,600.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 368 shares during the period. Finally, Elevation Point Wealth Partners LLC purchased a new position in Prudential Financial during the second quarter valued at $51,000. 56.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Caroline Feeney sold 6,555 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $116.28, for a total value of $762,215.40. Following the completion of the transaction, the executive vice president owned 22,523 shares of the company’s stock, valued at approximately $2,618,974.44. This trade represents a 22.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Charles F. Lowrey sold 48,164 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $107.39, for a total value of $5,172,331.96. Following the sale, the chairman directly owned 165,564 shares in the company, valued at $17,779,917.96. The trade was a 22.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 62,719 shares of company stock valued at $6,796,067 in the last three months. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Wall Street Zen raised Prudential Financial from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Piper Sandler upped their price target on shares of Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 23rd. Wolfe Research started coverage on shares of Prudential Financial in a research report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Morgan Stanley upped their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Prudential Financial in a research note on Monday. Eleven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $118.00.

Prudential Financial Price Performance

NYSE:PRU opened at $112.88 on Friday. The business’s 50-day moving average is $109.23 and its 200 day moving average is $106.37. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $123.88. The company has a market capitalization of $39.51 billion, a P/E ratio of 15.51, a P/E/G ratio of 0.92 and a beta of 0.97. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. The business had revenue of $8.35 billion during the quarter. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%. On average, equities research analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th were given a dividend of $1.35 per share. The ex-dividend date was Tuesday, November 18th. This represents a $5.40 annualized dividend and a yield of 4.8%. Prudential Financial’s dividend payout ratio (DPR) is 74.18%.

Prudential Financial Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.